Waivers

A medical insurance waiver is a document that you sign to be able to opt out of a medical insurance plan that is being offered to you. These are usually part of the picture when the medical insurance is group based, such as an employer or school; it’s safe to keep in mind it is not necessarily offered all the time.

Students who are enrolled or would like to be enrolled in a plan with better or equal coverage than the one offered by the school/university usually have the option to complete a waiver. This is especially useful for students as they could already be enrolled in a family plan and the cost of waiving a plan can amount to thousands of dollars savings throughout the year.

It is always important that before you go ahead and sign a medical insurance waiver you read all the information on it carefully. Pay close attention to who is waiving, it is usually the primary insurance holder, as well as dependents. It is also important for you to read the clauses that talk about a change in circumstance, like having a baby or moving, in this case transferring university.

Waivers are usually valid for either the whole semester or the whole school year. It is important for you to double check all this information with your schools, as well as the deadlines to submit a waiver. Most universities have a specific date by when a waiver needs to be submitted, in some cases if this has not been decided they will not allow you to register for classes.

Waiving the student sponsored health plan can have many benefits, but it is of extreme importance that you read all the information and you understand what you are signing off on.

Why as a student do you need a medical insurance waiver you might ask?